No one likes surprises that do not have presents and cake at the end. And getting caught off guard by your own finances would never be considered a good surprise. In fact, it can feel like the rug is being pulled out from under you. That’s exactly what happened to me six months ago when I was in the middle of what I thought would be a seamless mortgage transaction.

I had been transferred across the country for a job and found myself in a place that was unfamiliar in all senses of the word. After renting for a couple of months I knew that it was time to start looking around for something more permanent especially if I was going to stay with the company - as this transfer was most definitely not a temporary situation. More importantly, I knew that if I wanted to buy a home this was the time to do it as I had nothing to sell and it was a buyer’s market. The real estate agent with whom I worked showed me many properties over the course of several weeks but eventually I found the one that spoke to me and I was more excited than ever to take this step in my life.

I had been pre-approved for a mortgage amount with which I was comfortable and after the sellers accepted my offer the mortgage went into underwriting. That was the last of the smooth sailing.

Within a matter of days I was notified that it was unlikely that I was going to be approved for the mortgage due to some issues on my credit report. I was completely devastated and seriously confused. I knew of no such issues and I felt completely blindsided. I had no idea what to do next. Was I going to lose my house? More to come…

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